Over the past week, the NWST1100 continued falling, it was hovering near the resistance (10-days EMA). NWST1100 declined by 3.16%.
*We gauge the crypto market breadth and direction of the market by showing charts 2100NEWS Digital Assets Total Index (NWST1100) which represent the top 1100 Digital Assets. The chart overwhelmed with information is at first glance difficult to read but on the chart is the most important price information, important decisive price levels, momentum, volume of trading, and crypto market breadth.
Looking at the chart NWST1100 above we can see, the index continued falling, last week it was hovering near the resistance (10-days EMA). At the top, we can see momentum indicators. PPO histogram bars tell us, buyers’ force was weak. The Breadth indicator McClellan summation index has fallen slightly.
Looking ahead to the next week: The indicators give us the following signals: we can see that RSI is 32, still bearish, PPO histogram bars could cross the zero line in the next few days. PPO histogram and RSI show us the most important thing – momentum rhythm. This set up is the basis for my opinion: the sideways trend is more likely, with a lot of resistance (10-days, 25-days EMA), so the market could linger between 10-days and 25-days EMA for a few days. In the bearish scenario which is less likely because of pre-Christmas times, which sometimes even give birth to a Christmas rally, NWST1100 could test the support near 555 points (-10%).
Performance of different groups of Digital Assets (Coins and Tokens)
Looking at the table, you can see confirmation, by investing in crypto you have most likely not made money in the last three months. The total (NWST1100) index declined by 3.16% in the past week.
2100news Crypto Index Funds
However, in the table above we can see, Ethereum Tokens index was less bad performer over the last month. Looking at the chart below we can see that Ethereum Tokens (NWSET100, NWSET)
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Crypto (Digital Assets) compared with global equity
On the chart below, the performance of the average Digital Aset represented by our NWST1100 index is compared with the average global equity represented by Dow Jones global index W1Dow. This year average crypto vs. W1Dow surged by 21% but in the second half of the year, crypto has fallen over 50% vs. global equity. Last week NWST1100 vs. W1Dow continued falling.